While an increasing number of graduate business schools are accepting the GRE in lieu of or in addition to the GMAT for the standardized testing component of their applications, it is still unclear at this time how most schools weigh the GRE in comparison to the GMAT. The GRE is a relative newcomer to the domain of graduate business school admissions, and consequently the safe choice would be to prepare for the GMAT and submit those scores unless you’re prohibited from doing so by extenuating circumstances.
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